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Saturday, 7 August 2010 - India lends Bangladesh $1 bln
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    Read more with google mobile : India lends Bangladesh $1 bln

    Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World India lends Bangladesh $1 bln AFP - Sunday, August 8 Send IM Story Print India lends Bangladesh $1 bln Slideshow: Full Photo Coverage: Business & Economy DHAKA (AFP) - – India is giving Bangladesh a billion-dollar soft loan, the biggest credit package New Delhi has ever given to any nation, officials said Saturday, highlighting warming ties between the neighbours. Relations between the South Asian neighbours chilled between 2001 and 2006 when Bangladesh was ruled by an Islamist-allied government and New Delhi regularly accused Dhaka of harbouring Indian insurgents and fostering militancy. "It's the largest line of credit the government of India has extended to any country," Deepak Mittal, a spokesman for the Indian embassy in Dhaka, told AFP. The line of credit also marked the single largest loan Bangladesh has received from any nation, development bank or donor agencies, Dhaka's Economic Relations Division secretary Mosharraf Hossain Bhuiyan said. Indian Finance Minister Pranab Mukherjee was due to arrive in Dhaka later on Saturday to attend the official signing for the loan. The money will be used by impoverished Bangladesh to modernise its railway and build other transport and infrastructure. "The terms of credit are very favourable to Dhaka. The interest rate is just 1.75 percent and will be paid back in 20 years," Bhuiyan said. Indian officials said Mukherjee's planned presence for the signing of the deal underscored the importance that New Delhi attaches to building better relations with Bangladesh. The line of credit was announced by Indian Prime Minister Manmohan Singh during his Bangladeshi counterpart Sheikh Hasina's "pathbreaking" visit to New Delhi in January. It was Hasina's first visit to India since her secular Awami League party was swept back to power with a massive victory in January 2009. Recommend Send IM Story Print Related Articles Russia concerned over U.S. "non-compliance" on poultry Reuters - 40 minutes ago Russia concerned over U.S. "incomliance" on poultry Reuters - 1 hour 40 minutes ago India lends Bangladesh $1 bln AFP - Sunday, August 8 TABLE-India's Sterling Biotech April-June net up 10 pct Reuters - Sunday, August 8 SAIC July auto sales slow in cooling China market Reuters - Sunday, August 8 News Search Top Stories Michelle Obama tours medieval Spanish town of Ronda 'Radioactive boars' on loose in Germany Laxman hits ton to secure India Test win US astronauts begin key ISS repair spacewalk Climate change sparks 'quickest evolution ever' More Top Stories » Related Full Coverage Financial falloutLatest news on global credit crunch. All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended HP boss resigns amid sexual harassment claims Wyclef Jean flying to Haiti to announce presidential run US economy sheds 131,000 jobs Scientists find sea sponges share human genes BP may re-drill near Gulf of Mexico oil well site More Most Viewed » Parachuting donkey shocks Russian beachgoers Argentine students crack three-decade-old murder mystery 40 US billionaires pledge half wealth to charity World's first full face transplant man appears on TV Calcium supplements linked to heart attacks: study More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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